GVC agrees to acquire Bet.pt in Portugal

GVC has agreed to acquire Bet.pt in Portugal to extend their business across Iberia.

Portugal is a recently regulated market and Bet.pt was one of the earliest entrants, obtaining its sports-betting license in 2016 and a casino license in 2017.

The Portuguese sports-betting and gaming market is growing rapidly and is expected to more than double to around €450m (£410m/$529m) by 2023.

Bet.pt is one of the leading online gambling operators in Portugal with a particular strength in sports-betting. By leveraging the GVC technology, extensive portfolio of gaming content, marketing and CRM capabilities, as well as growing the sports offering, GVC see plenty of opportunities to grow its profitability and market position.

Shay Segev, CEO of GVC commented:

“The acquisition of Bet.pt that we are announcing today is consistent with our strategy of expanding into new markets that are either regulated or regulating, in order to support our international growth ambitions.

While the risk of further restrictions as a result of COVID-19 mean that we remain cautious on the short-term outlook, in the longer term we are confident of being able to continue delivering sustainable growth for all our stakeholders.”

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